Needs to be pre planned and over half of trip duration used for investment purposes.

Cassidy - I just read a copy of the GCAAR lease and also did not notice any paragraphs specifically outlining tenant responsibility under early termination, however paragraphs #1, 2 and 24A  make it clear that tenants' responsibility for rent lasts for the duration of the TERM OF THE LEASE.  

if you are renting by the room you should limit overnight guest to 1 if you allow and specify a duration.

I know about the first deed of trust option, but he mentioned a promissory note for the duration attached to the deed.

Here's the deal specifics:150,000 loan30 year amortization5% interest rate No Balloon Payment monthly mortgage payments increase 14% per year for years 2-5 and remains at the year 5 level for the remaining payoff duration of the loan.  

If your state regulations are clear that a tenant breaking a lease is responsible for the duration of their lease to the point a landlord finds a replacement tenant that is exactly what you should be enforcing.

For the investors in multi-unit/rental properties near Universities, What is the general consensus on the tenancy duration?

What is your take on holding long term 'owner finance notes' with duration 20 to 30 years.

If it is what you have experienced so far how long of a duration have you been tracking and over how many units?

The loans would likely be 1% or so higher rates and 10 - 15 year duration with balloon payments etc.